Description

Global Electric Drives Market 2017-2021 Description

Electric drives have become necessary for efficient speed and motion control of electric motors. The electric drives are primarily categorized into two types: AC and DC. The current market trends are favorable for AC drives because AC motors are more energy efficient than DC motors and do not have unreliable commutators. So, while the market growth of DC drives remained almost flat in recent years, the market for AC drives is expected to see linear growth.

Technavio’s analysts forecast the global electric drives market to grow at a CAGR of 4.52% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global electric drives market for 2017-2021. To calculate the market size, the report considers the revenue generated by top vendors in electric drives market along with their market share.

The market is divided into the following segments based on geography:

Americas

APAC

EMEA

Technavio's report Global Electric Drives Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors

ABB

Danfoss

Schneider Electric

Siemens

Rockwell Automation

Other prominent vendors

Mitsubishi Electric

Hitachi

Fuji Electric

Yaskawa Electric

Emerson Electric

Toshiba

Market driver

Growing demand for renewable energy

For a full, detailed list, view our report

Market challenge

Highly fragmented market

For a full, detailed list, view our report

Market trend

Increasing demand for Industrial Internet of Things

For a full, detailed list, view our report

Key questions answered in this report

What will the market size be in 2021 and what will the growth rate be?

What are the key market trends?

What is driving this market?

What are the challenges to market growth?

Who are the key vendors in this market space?

What are the market opportunities and threats faced by the key vendors?

Commenting on the report, an analyst from Technavio’s team said: “The energy resources, such as natural gas, oil, and fossil fuels are limited in quantity. Apart from this, the use of these resources casts a negative influence on the natural environment. So, shortage of electricity and global warming due to environmental pollution have helped the formulation of various energy regulation policies by governments. The major developed regions like North America and Europe have already taken a step to ensure maximum usage of renewable energy by 2050.For example, there were three different standards for motors, and now IEC 60034-30-1:2014 for motors has included the fourth efficiency level standard, called IE4.”

According to the report, the energy resources, such as natural gas, oil, and fossil fuels are limited in quantity. Apart from this, the use of these resources casts a negative influence on the natural environment. So, shortage of electricity and global warming due to environmental pollution have helped the formulation of various energy regulation policies by governments. The major developed regions like North America and Europe have already taken a step to ensure maximum usage of renewable energy by 2050.For example, there were three different standards for motors, and now IEC 60034-30-1:2014 for motors has included the fourth efficiency level standard, called IE4.

Further, the report states that most of the end-users' expansion and growth plans are highly dependent upon oil and gas prices, which are volatile in nature. The reduction in oil and gas prices may restrain industrial and manufacturing industries, and will discourage any further investments. Since the electric drives market is highly co-related with these industries, the risks associated with these markets are very high.